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Episode 106: How To Spend Your Education Budget In 2022 - Coaching, Workshops, Conferences, Memberships, etc.
Welcome back to another episode of The Legal Paige Podcast. Have you ever wondered how to spend your education budget in 2022? In today's episode I am covering just that, because I know this is a game changer for your business.
Things we talk about:
- How to plan out your 2022 education budget before next year.
- Why constantly investing in yourself and your business will take it to new heights.
- An easy way to save money and score some amazing conference, and workshop deals this year.
- Why I think it's so important to have a plan when it comes to investing in your business versus jumping at every conference, workshop, and coach you see.
Here are a few quotes:
"I think some people get into trouble with this where they think, oh, I just need to like pour a bunch of money into my educational budget so that I'm reducing my taxable income in that respect. But at the end of the day, like you still need to pay taxes. You still want your business to be making a profit. You don't just want to like pour everything back into investing into yourself. As the CEO it's import to educate yourself and go to workshops, I want you to do that, but I don't want you to overdo it where then your business isn't making any money."
"Sometimes payment plans make sense just for expensing purposes. Like you may have the money now and that's great, I want you to. So plop that into your business savings account because it's like, you're paying in full right now, but you're just trying to spread the cost budget wise for say like November and December and then January and February, maybe it's a four month payment plan and you can still get good business deductions for educational purposes."
"So usually it's a set fee to attend the conference and then just put in your flights, your hotel, your other per diem and meal and expendable, or, you know, extraneous expenses that you may have. But that all into a budget and make sure that you have that amount, uh, early bird pricing for conferences is definitely a thing at the end of every year. So be on high alert for early bird pricing here in this last quarter of 2021, because it might be a better way for you to attend a conference."
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